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a tax increase. if washington doesn't come up with bauj et deal by the end of the year. if existing tax cuts are allowed to automatically expire, the average tax increase would be $3500 a year, a middle income family make between $40,000 and $60,000 a year would see their tax bill rise by $2,000. >>> overseas marks were mixed this morning. tokyo's nikkei shed a fraction on concerns of company earnings, while south korea's kospi grained a fraction. hong kong's hang seng is closed for a holiday. >>> on wall street, the dow added 77 points while the nasdaq lost two points. jp morgan chase is being sued over dealings made by bear stearns, the investment bank it acquired in 2008. new york's attorney general filed the suit claiming bear stearns misled investors. the suit is the first to be filed under a group set up by the obama administration to investigate misconduct that caused the 2008 financial crisis. jp morgan says it will will contest the suit. and notes that the alleged actions took place before i
a tax increase. if washington doesn't come up with bauj et deal by the end of the year. if existing tax cuts are allowed to automatically expire, the average tax increase would be $3500 a year, a middle income family make between $40,000 and $60,000 a year would see their tax bill rise by $2,000. >>> overseas marks were mixed this morning. tokyo's nikkei shed a fraction on concerns of company earnings, while south korea's kospi grained a fraction. hong kong's hang seng is closed for a...
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not at the corporate tax rate but at the individual tax rate. >> reporter: two policy wonks arguing over fairly small points while in basic agreement about their love of america and their reluctance to change anything basic about this country. no hatred, no talk of punishment. just a wish to make something great even greater. now, much may change in the next few weeks. the debates on foreign policy and defense may be totally different. when larry king asked me after the debate last week who won, i said america won and i meant it. >> osgood: opinion from ben stein. now to bob scheiffer in washington for a look at what's ahead on "face the nation." good morning, bob >> schieffer: good morning, charles. we have the president's main campaign strategist david axle rod on the campaign and tony larussa on the baseball play-offs. >> osgood: thank you, bob. we'll be watching. next week here on sunday morning >> welcome back! osgood: we talk the talk. with sharon osborne. >> how many now? 14. for two years in a row now, j.d. power and associates has ranked quicken loans "highest in customer s
not at the corporate tax rate but at the individual tax rate. >> reporter: two policy wonks arguing over fairly small points while in basic agreement about their love of america and their reluctance to change anything basic about this country. no hatred, no talk of punishment. just a wish to make something great even greater. now, much may change in the next few weeks. the debates on foreign policy and defense may be totally different. when larry king asked me after the debate last week...
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and president obama. >> he will ultimately have to raise taxes on middle income taxes by $4,000 a year. >> reporter: since last week's debate, which romney is widely regarded as having won, both sides argued the other was dishonest. >> he was a little taken aback at the brazenness with which governor romney walked away from so many of the positions on which he's run. >> reporter: their truth war now on tv. >> not telling the truth about mitt romney's tax plan. >> this was dishonest. >> i'm not in favor of a $5 trillion tax cut. >> the governor knows his $5 trillion tax cut isn't too popular, so a few weeks before the election, he's trying to pretend it doesn't exist. >> reporter: president obama at a star-studded fundraising concert in los angeles sunday, heads to san francisco today with romney's poll numbers improving. >> they're looking very good. >> reporter: after the debate, reuters puts mitt romney within two points of the president. tomorrow we'll see both candidates in ohio. there's good reason for that. tomorrow is the last day voters there can register to vote. >> tracie pot
and president obama. >> he will ultimately have to raise taxes on middle income taxes by $4,000 a year. >> reporter: since last week's debate, which romney is widely regarded as having won, both sides argued the other was dishonest. >> he was a little taken aback at the brazenness with which governor romney walked away from so many of the positions on which he's run. >> reporter: their truth war now on tv. >> not telling the truth about mitt romney's tax plan....
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Oct 6, 2012
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argument against mitt romney calling the romney team out on some of these specifics whether it's on tax cuts or on medicare. i think one of the interesting dynamics to watch in the vice presidential debate is there's a difference between what paul ryan believes and what mitt romney believes and that is on these, on some of these important issues about taxes and health care and medicare. so that's an area where you can imagine vice president biden working to press ryan on the details and the inconsistencies between the two of them. >> really interesting point. thanks so much. >>> coming up in our next half hour, round 2009 the presidential debate and how body language is so important in determining the winner. >>> breaking news from rome. there's a verdict in the trial of pop benedict's former butler. paolo gabriele was convicted this morning of leaking the pope's private papers to a wrournlist. he's been sentenced to 18 months in prison. >> reporter: good morning. well the prosecution wanted three year sentence, the defense asked for an acquittal. the butler said he acted on behalf of t
argument against mitt romney calling the romney team out on some of these specifics whether it's on tax cuts or on medicare. i think one of the interesting dynamics to watch in the vice presidential debate is there's a difference between what paul ryan believes and what mitt romney believes and that is on these, on some of these important issues about taxes and health care and medicare. so that's an area where you can imagine vice president biden working to press ryan on the details and the...
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he would repeal the alternative minimum tax and permanently repeal the estate tax. the nonpartisan tax policy center concluded that mitt romney's tax plan would cost $4.8 trillion over ten years. romney said again tonight that his plan would be paid for, but to pay for those cuts, he would have to close loopholes in the tax code and get rid of some tax deductions, he said, and credits, but he's repeatedly refused to say which deductions he would get rid of saying that he would work with congress to make those decisions. also tonight president obama said his plan would cut the deficit by $4 trillion. >> we all know that we've got to do more, and so i put forward a specific $4 trillion deficit reduction plan. it's on a website. you can look at all the numbers, what cuts we make and what revenue we raise. >> reporter: that estimate comes from the left-leaning center on budget and policy priorities. $3.8 trillion, to be exact, over ten years. the president is counting money saved by letting the bush tax cuts expire for people making more than $250,000 a year, but he's a
he would repeal the alternative minimum tax and permanently repeal the estate tax. the nonpartisan tax policy center concluded that mitt romney's tax plan would cost $4.8 trillion over ten years. romney said again tonight that his plan would be paid for, but to pay for those cuts, he would have to close loopholes in the tax code and get rid of some tax deductions, he said, and credits, but he's repeatedly refused to say which deductions he would get rid of saying that he would work with...
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tax experts said today 90% of american families are facing llat they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. intt? >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and will hit americans at every income level, including those living below the poverty line. for a middle-income family making $40,000 a year, taxes will go up by $2,000. the increases are so large secause the nation's biggest tax cuts all expire three months from now on new year's day. cludeinclude the bush-era federal income tax cuts, the payroll tax cut that lowered social security and medicare taxes, and several remaining stimulus tax cuts all go away january 1 unless congress and the president reach a deal on the budget. e ny economists are concerned that a tax increase of that size could shock the ec
tax experts said today 90% of american families are facing llat they call unprecedented tax increases. how much? wyatt andrews is in washington tonight. intt? >> reporter: scott, according to the non-partisan tax policy center, the united states is now on the threshold of one of the largest tax increases in history-- a tax hike that could average $3,500 for every american household. without action by congress, the report says, taxes will go up next year by 20%-- $536 billion overall and...
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taxes go up by 2,000 in 2013. >>> the young man who was involved in deadly sniper a tax in the d.c. area is talking from prison. lee boyd malvo took part in the shootings that began 10 years ago today. 10 people in all were killed. malvo was 17 at the time and laughed about the shootings when he was arrested. now he is talking in a different tone from a virginia prison where he is serving a life sentence. i was a monster. i mean, if you look at the definition of a monster, that's what a monster is. >> malvo got a life sentence instead of death because jurors believed he was under his accomplice' control during the crime. >>> american airlines has engineers in new york checking the seats on eight boeing 757 jets. the inspections came after two incidents where rows of seats came loose from the airplane floor. it happened yesterday in a flight from new york to miami. again on saturday, on a boston- to-miami flight that made an emergency landing in new york because of pilot concerns. >> we don't know what kind of turbulence we have. the seat is loose. we don't want that thing flying aro
taxes go up by 2,000 in 2013. >>> the young man who was involved in deadly sniper a tax in the d.c. area is talking from prison. lee boyd malvo took part in the shootings that began 10 years ago today. 10 people in all were killed. malvo was 17 at the time and laughed about the shootings when he was arrested. now he is talking in a different tone from a virginia prison where he is serving a life sentence. i was a monster. i mean, if you look at the definition of a monster, that's what...
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we've got to collect the taxes to do it. if there's a fairer way, i'm all ears. >> schieffer: when i moderated the 2008 debate-- the rules tonight are simple-- a third party also figured in the proceedings, a man who had become known as joe the plumber. >> a worked hard, i'm a plumber. >> he had become a symbol of the frustration of many blue collar workers to the point when candidates sat down to debate-- >> joe the plumber-- >> schieffer: you got the idea joe was running for something, too. >> the conversation i had with joe the plumber. >> like joe the plumber. >> i'm happy to talk to you, joe, too, if you're out there. >> to people like joe the plumber. >> schieffer: joe became such a part of the conversation i thought about thanking him at the end. but this was a presidential debate. so i didn't want to be too cute. and who knows what this year will bring. but i doubt we'll hear from joe. it turns out he's busy running if are congress out in ohio. back in a minute. they have teachers... ...with a deeper knowledge of the
we've got to collect the taxes to do it. if there's a fairer way, i'm all ears. >> schieffer: when i moderated the 2008 debate-- the rules tonight are simple-- a third party also figured in the proceedings, a man who had become known as joe the plumber. >> a worked hard, i'm a plumber. >> he had become a symbol of the frustration of many blue collar workers to the point when candidates sat down to debate-- >> joe the plumber-- >> schieffer: you got the idea joe was...
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he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic. >> when president obama said in 2008 i'm going to cut the deficit in half, i'm going to close guilt me, people-- gitmo, people said-- did not sigh he was not telling the truth. >> closing gitmo involved congress and he couldn't get them to do that. the math, people over $200,000, and you still have a trillions of dollars hole, and he hasn't named the deductions he would close. this is a shell game, john. whichever shell you pick up, the middle class loses. the economy will lose, and i think that this is going to catch up with him. >> schieffer: what did the president think of his performance? >> i think the pr
he said 30% tax cuts on corporate taxes and he has a series of other tax cuts he's promised that add up to $4.8 trillion. he cannot name one loophole that he would close. if you took away all the loopholes for upper-income americans, every single one of them, he would still be trillions of dollarss short. me has to sock it to the middle class or explode the deficit. > deficit. >> reporter: what you're saying it it is unrealistic-- >> i'm saying it's impossible, not unrealistic....
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the tax plan he described is the tax plan i was asked to support i would say absolutely not. i'm not looking for a $5 trillion tax cut. >> he's been running on this tax plan for 18 months and now five weeks before the election he's saying that his big bold idea is never mind. >> reporter: the theme of the debate for president obama appeared to be romney's plan lacked specifics. >> the reason that governor romney is keeping all these plans to replace secret because they are too good? >> reporter: mitt romney spent most of the night attacking the president's record. >> you've been president for four years. you said you would cut the deficit in half. it's now four years. >> reporter: romney came into the debate trailing in the polls but that could change. >> any time a challenger stands on the stage with a president in the first debate they tend to get some bounce after that. i expect that could happen here. >> reporter: the romney campaign believes the governor scored a knockout. >> i believe romney was the clear winner of this debate. if it was a boxing match it would have bee
the tax plan he described is the tax plan i was asked to support i would say absolutely not. i'm not looking for a $5 trillion tax cut. >> he's been running on this tax plan for 18 months and now five weeks before the election he's saying that his big bold idea is never mind. >> reporter: the theme of the debate for president obama appeared to be romney's plan lacked specifics. >> the reason that governor romney is keeping all these plans to replace secret because they are too...
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build on wednesday's debate mitt romney changes course on his criticism of americans who pay no income taxes. >>> i said something that was completely wrong. >> meningitis outbreak. health officials rush to alert patients who may have been exposed to the deadly disease that's killed five people in sickened dozens more. >> i don't want this thing in my body. i feel like i want a cleanser. i want it out. get out of my body. >> and bin laden drama. a tv movie about the raid that killed osama bin laden is set to air two days before the presidential election. this is the "cbs morning news" for friday, october 5, 2012. "cbs morning ne good morning. good to be with you. i'm terrell brown. mitt romney is changing his tune about those controversial remarks concerning 47% of americans. last may speaking at a florida fundraiser romney said 47% of americans paid no federal income taxes and considered themselves victims and will support president obama. romney originally stood by his remarks and described them as not elegantly stated but in an interview with fox news last night romney had a different exp
build on wednesday's debate mitt romney changes course on his criticism of americans who pay no income taxes. >>> i said something that was completely wrong. >> meningitis outbreak. health officials rush to alert patients who may have been exposed to the deadly disease that's killed five people in sickened dozens more. >> i don't want this thing in my body. i feel like i want a cleanser. i want it out. get out of my body. >> and bin laden drama. a tv movie about the...
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biden accused romney of planning to raids taxes on the middle class to pay for tax cuts on the wealthy. >> how they can justify raising taxes on the middle class that's been buried the last four years, how in lord's name can they justify raises the taxes. >> republicans pounced, calling biden's remarks that the middle class has been buried for four years a stunning admission. the obama campaign called that a desperate and out of context attack. the vice president shrugged off his tendency to shoot from the lip. >> no one has ever doubted i mean what i say. the problem si sometimes say all that i mean. >> reporter: in august republicans and some democrats were outraged when biden make that reference to an audience of african-america african-americans. >> he's going to let the big banks write their own rules. unchain wall street. they're going to put y'all back in chains. >> reporter: there was a time in may when biden forced the president's hand on the gay marriage issue. going on "meet the press" and endorsing same-sex unions before the president's announcement. >> i am absolutely comf
biden accused romney of planning to raids taxes on the middle class to pay for tax cuts on the wealthy. >> how they can justify raising taxes on the middle class that's been buried the last four years, how in lord's name can they justify raises the taxes. >> republicans pounced, calling biden's remarks that the middle class has been buried for four years a stunning admission. the obama campaign called that a desperate and out of context attack. the vice president shrugged off his...
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. >> romney paid 14% in taxes last year on 13 million in income. >> obama wages war on coal. >> they blow everything out of proportion. >> reporter: in colorado alone, $47 million in five months have been spent by the romney and obama campaigns. and the groups that support them. come november people here can tell the rest of the nation how they feel about enduring all those tv ads. >> let me get your e-mail address. >> reporter: amendment 65 is on the ballot. if passed the state's congressional delegation would be required to propose an amendment to the u.s. constitution limiting campaign contributions and spending. this is the executive director of colorado common cause. >> the result is a democracy that distorts the voice of ordinary people in favor of those who can write multimillion dollar expects. >> reporter: billionaires would argue they have the same rights as to freedom speech as anybody else. >> freedom of speech problem texts to say what we want but it doesn't give them the right to shout louder than the rest of us. >> reporter: the 2010 ruling said restrictions on contrib
. >> romney paid 14% in taxes last year on 13 million in income. >> obama wages war on coal. >> they blow everything out of proportion. >> reporter: in colorado alone, $47 million in five months have been spent by the romney and obama campaigns. and the groups that support them. come november people here can tell the rest of the nation how they feel about enduring all those tv ads. >> let me get your e-mail address. >> reporter: amendment 65 is on the ballot....
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they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly residents.ing them compa keeping them company are thousands of millionaires. of they have to show that they show don't have a criminal record and that they are already residents of the european union. but only a few can pass the final test proving that they union. have enough money to live here. pass th to open a bank account in depos monaco, you need a minimum deposit of nearly $400,000 and the country's real estate is the most expensive in the world. this apartment sold for more more than $300 million. >> monaco is very safe. safe >> reporter: selling some of monaco's luxurious homes. what was the most expensive property yo
they pay zero income tax, zero capital gains tax and zero inheritance tax.nheritance one of an army of account ant ss who helped monaco's wealthy tax exiles. >> if you have an amount of kpils money, first of all, you will be welcome. >> is it a safe place to enjoy >> reporter: wealth, is that right? >> absolutely. the life monaco lifestyle. aco >> roger moore lives in monaco and tennis champion super model forme and former beatle ringo starr reporte are reportedly...
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. restaurants. >>> date night at a discount? a simple phone call can save you money even at real nice restaurant as soon as and it doesn't involve coupons. nobody at your table would even know. consumerwatch reporter julie watts lets us in on the big secret. >> reporter: it's 12:30 on a wednesday afternoon, and this restaurant is packed. but what most diners don't realize is the same reservation the day before would have saved them 30%. >> you have to come back? >> reporter: this is one of a growing number of discounts discounting based on the time and day. >> you going out anyway, so change the time a little bit. we are an hour earlier or later, and you can get up to a 30% discount. >> reporter: chaya's manager says that 10 to 15% of the reserv
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. restaurants. >>> date night at a discount? a simple phone call can save you money even at real nice restaurant as soon as and it doesn't...
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. >> obviously the governor knows his $5 trillion tax cut isn't too popular so a few weeks before this election he's trying to pretend it doesn't exist. >> reporter: romney is in virginia today for a rally and what is being called a major foreign policy address. excerpts from the speech have already been released. romney wants a change of course in the middle east including tougher sanctions on iran and he'll call on the u.s. to work with other nations to arm rebels in syria with weapons that can defeat president bashir al assad's army. at a rally in florida, romney promised to be a strong international leader if elected. >> when i'm president i'll take the care it takes to rebuild our principles and restore the principles that made america strong. >> reporter: the republican nominee couldn't resist taking another shot at the president's debate performance. >> now of course days later we're hearing his excuses and next january we'll watch him leave the white house for the last time. >> reporter: romney and the president have two more debates cancelleded. later this week is the vice pre
. >> obviously the governor knows his $5 trillion tax cut isn't too popular so a few weeks before this election he's trying to pretend it doesn't exist. >> reporter: romney is in virginia today for a rally and what is being called a major foreign policy address. excerpts from the speech have already been released. romney wants a change of course in the middle east including tougher sanctions on iran and he'll call on the u.s. to work with other nations to arm rebels in syria with...
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. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan said the middle class has been buried. >> they are being buried by the obama administration's economic failures. >> reporter: the obama campaign said ryan took mr. biden's words out of context. the president will have the first word tonight, mitt romney will have the last. >> susan, thank you. this is where you can watch tonight's debate. our coverage begins at 9:00 p.m. eastern right here on cbs. meanwhile off the campaign trail conservative blogs were buzzing about fox news recent airing about a 2007 speech by a then senator obama before a black audience. he expressed suspicion the federal government was withholding recovery money to new orleans after hurricane katrina. >> when hurricane andrew struck in florida people said look at this devastation. we don't expect to you come up with the almighty money. here's the money. we won't wait for you to scratch it together because you're part of the american family. what's happening down in new orleans? where is your d
. >> how they can justify raising taxes on the middle class that's been buried the last four years. >> reporter: paul ryan said the middle class has been buried. >> they are being buried by the obama administration's economic failures. >> reporter: the obama campaign said ryan took mr. biden's words out of context. the president will have the first word tonight, mitt romney will have the last. >> susan, thank you. this is where you can watch tonight's debate. our...
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mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into pla place, that will be the main fact checking going forward. >> certainly both sides of this campaign, and there's certainly stuff in the papers today analyzing things that obama said that were untrue and what romney said were untrue. everybody has to take a fine tooth comb through the paper to go through that this morning. let's talk about romney's tax cut plan. he wants to cut everyone's rates by 20%. is it true that that would cost $5 trillion, yes or no? well, the question is, how do you shape it? the question for romney is not ne
mitt romney talked about his tax plan. the president was trying to say was that you can't have a program of tax cuts and also increase in defense spending that adds up without drastic spending cuts. and that's one of the things people will be going after with mitt romney. also his claims about his health care plan and medicare. again, how exactly his plan would work out. but i think in particular, the question of the taxes and the budget and how that would affect people, when really put into...
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>> i will lower the tax rate. he wants to creat to raise them. i'll create jobs and he'll kill them. also marsha blackburn, bob shrum, and larry sabato from the university of virginia center for politics. as we head into first presidential debate, we'll talk about the state of america at home and abroad with the distinguished panel. michelle rhee, former head of the washington, d.c. school system and founder of students first. economist mark zandi of moody analytics. bob woodward, author of "the price of politics" and hendrick smith, author of the new book "who stole the american dream?." it's all ahead on "face the nation." captioning sponsored by cbs from cbs news in washington, "face the nation" with bob schieffer. >> schieffer: and we welcome now to the broadcast new jersey governor chris christie. governor, thank you for being here. governor i have to start off by saying i don't hear very many republicans these days who think mitt romney is doing very well. what's your take here? >> well, he's had a tough couple of weeks. let's be honest. i'
>> i will lower the tax rate. he wants to creat to raise them. i'll create jobs and he'll kill them. also marsha blackburn, bob shrum, and larry sabato from the university of virginia center for politics. as we head into first presidential debate, we'll talk about the state of america at home and abroad with the distinguished panel. michelle rhee, former head of the washington, d.c. school system and founder of students first. economist mark zandi of moody analytics. bob woodward, author...
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight.
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight.
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two months ago. i very rarely put gas in my chevy volt. i go to the gas station such a small amount that i forget how to put gas in my car. [ male announcer ] and it's not just these owners giving the volt high praise. volt received the j.d. power and associates appeal award two years in a row. ♪ ,,,, appeal award two years in a row. of the hottest temperaturesf >>> a little taste of summer at the dawn of october. the bay area is roasting in some of the hottest temperatures of the year. even san francisco topped 90 degrees. cbs 5 reporter, on this late- season sizzle. >> reporter: it did get really
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. on gasoline. i am probably going to the gas station about once a month. last time i was at a gas station was about...i would say... two...
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Oct 7, 2012
10/12
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. the search continues this morning for a motive and for behind the death >>> let's take look it at this morning's stop stories. >> the search continues between the death of a woman and the search for the suspects in hercules. >>> and hundreds of thousands are coming to san francisco to take part in fleet week, the giants game, the 49ers. those are some of the events expected to draw record crowds >>> and disappointing day for bay area baseball fans yesterday. both local teams lost their post-sea on opener. game 2 of the a's tigers series set to start in about a half hour from now. the giants take on the reds. later, tonight at at&t park. >> we are jumping over to the cw network. in the meantime, face the nation is here. but channe
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. the search continues this morning for a motive and for behind the death >>> let's take look it at this morning's stop stories....
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Oct 1, 2012
10/12
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a temporary tax holiday ends january 1st. according to the times there's little desire by republicans or democrats to extend it. some 160 million americans will probably see their taxes jump by about $1,000. >>> britain's guardian reports a russian court has put off today's appeal by a russian punk band. three members of this group were sentenced to two years in prison for performing a song in a cathedral criticizing russian president vladimir putin. the case is now scheduled to be heard next week. >>> the los angeles times says governor jerry brown signed a new law sunday allowing hundreds of thousands of young undocumented immigrants to have >>> we are looking at a hot one around the bay area. the sun coming up. a gorgeous shot. getting up and looking outside. beautiful weather all the way to the coastline. the temperatures for the most part are mild. 50s and 60s. down to 49 right now in santa rosa. that will change though looking toward the afternoon. 102 in livermore. 86 in san francisco . next couple days going to stay h
a temporary tax holiday ends january 1st. according to the times there's little desire by republicans or democrats to extend it. some 160 million americans will probably see their taxes jump by about $1,000. >>> britain's guardian reports a russian court has put off today's appeal by a russian punk band. three members of this group were sentenced to two years in prison for performing a song in a cathedral criticizing russian president vladimir putin. the case is now scheduled to be...
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Oct 8, 2012
10/12
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>> in the context of comprehensive tax reform everything should be looked at. we have to recognize we have a $1 trillion annual deficit. unless we deal with ways of getting revenue and cut spending we'll be in a bad situation in our country for quite some time. carried interest shouldn't be singled out. everything shoulgd be looked at. >> due agree it should be taken out. everything should be looked at. but with respect to carried interest. >> carried interest won't solve the problem. we have a $1 trillion annual deficit. carried interest would carry about one tenth of 1%. we should solve the deficit. >> it sounds like you say keep it. >> i'm saying look at everything but look at it in the context what it will kofl. our bigger is not carried interest it's the deficit and the $16 trillion of debt. that's a far greater problem. >> what would you do and what would you recommend whoever the next president do to solve the fiscal cliff crisis? >> first what i would recommend and again i was in government and i didn't solve all these problems so i'm not a person that
>> in the context of comprehensive tax reform everything should be looked at. we have to recognize we have a $1 trillion annual deficit. unless we deal with ways of getting revenue and cut spending we'll be in a bad situation in our country for quite some time. carried interest shouldn't be singled out. everything shoulgd be looked at. >> due agree it should be taken out. everything should be looked at. but with respect to carried interest. >> carried interest won't solve the...
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Sep 30, 2012
09/12
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now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. >> osgood: the curtain is going up on the new season at the movies. bill whitaker in hollywood has saved us a seat. >> i'm looking for someone to share in an adventure. >> it happens every year as the weather cools down, the big screen sizzles. >> kind of like your happy time it is a happy time. i mean... >> reporter: the film critic for the los angeles times and our guide through this fall's films. >> you know, this year it's going to be really good films in the fall. sometimes there are. sometimes that actually happens. >> reporter: are there one or two that stand out? >> i'm looking forward to lincoln >> reporter: starring daniel day lewis. >> blood has been spilt as of this moment. now, now, now >> reporter: the actor, known
now these politicians say unless we send more tax dollars to sacramento, they'll cut education again. here's a new approach. prop thirty-eight sends billions in new education dollars straight to our local schools, and guarantees the politicians can't touch it. thirty-eight will restore the education cuts from sacramento. so remember this number. thirty-eight. >> osgood: the curtain is going up on the new season at the movies. bill whitaker in hollywood has saved us a seat. >> i'm...
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Oct 4, 2012
10/12
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. >> if the tax plan he described were a tax plan i would support, absolutely not. i'm not looking for a $5 trillion tax cut. >> now, five weeks before the election, he's saying that his big, bold idea is, never mind. >> reporter: george, up until last night, the obama campaign had succeeded in turning this from a referendum on president obama to a choice. and they were painting mitt romney as an unacceptable alternative. but that dynamic seemed to change last night. it seemed to be very much a referendum on president obama. and mitt romney presented himself as a credible alternati alternative. george? >> that's what mitt romney wanted. >>> let's get the view from the romney camp right now. david muir covers the romney campaign. and as we said, the polls giving mitt romney the win overnight. clearly, the romney team is happy. how do they capitalize on it going forward? >> reporter: i have to tell you, george, in talking with a key adviser overnight, one of the things i was struck by was he said our supporters are going to love this. you can't underestimate what he m
. >> if the tax plan he described were a tax plan i would support, absolutely not. i'm not looking for a $5 trillion tax cut. >> now, five weeks before the election, he's saying that his big, bold idea is, never mind. >> reporter: george, up until last night, the obama campaign had succeeded in turning this from a referendum on president obama to a choice. and they were painting mitt romney as an unacceptable alternative. but that dynamic seemed to change last night. it seemed...
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if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get a good deal. neil: mitt romney got in trouble when he tried to clarify just that view. but i'm not going to lower taxes as much as you think, i'm going to get rid of a lot of deductions and he left himself open to critics who said wait a minute, you were tax cuts are worth the paper they are printed on. but the goal is to get to a simpler tax code that when you takout some of the extraneous write-offs and allowances, credits, etc., and that he will get it something that makes it a black-and-white case,. >> and there is a question which is why don't politicians wanted. you would assume that they
if you look at the chart, you can see that the most income from our taxes come from individual taxes. the third bar is corporate taxes and you can see the 7.9%. now, we have about $200 billion from corporate taxes. that is how much our government received from corporations. that was for prfits in the year 2011. $2 trillion. if you can figure it out, that's a 10% tax rate. in other words, there are so many deducons and special deals for the high rollers, the big people. even at 35%, we don't get...
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you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up. >> vice president biden said they have been buried. and they are jumping all over this, listen here to senator marco rubio. >> those are not my words. those happen to be the words of the distinguished vice president of the united states, mr. joe biden. don't boo, he is the best thing we have going, guys. don't boo. because in a moment of clarity, in a brief moment of clarity, he said what we knew. >> gaffe or no gaffe, and you will tell me it's not, isn't it still a problem for the president? >> no. you know, i heard senator rubio, and i heard th
you're still raising taxes on the middle class. even his own economists that he relies on says you can't cut taxes by $5 trillion out paying for it by cutting deductions for people making $200,000 and less. that's just a fact. you can't do it. even if you close every single deduction for people making over $200,000, or $250,000 for families, you're still a trillion short. so he has to tell us how he will do this without increasing taxes on the middle class. so far the math does not add up....
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Oct 6, 2012
10/12
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promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's intent. that's not romney's intent. romney god -- got to say the president is the one who's not telling the truthecaui woul do . >> a romney advisor last week said we have two goals. one is deficit reduction, one is tax cuts. cuts ie w we'll do deficit reduction. gwen: there's anoth numbe $716 million to deal with medicare but it's coming from different places and going to different places and trefore th fin - of de u in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for
promised so it's the estate tax plus a.m.t. plus keeping bush, plus lowering rates plus cutting capital gains taxes. you put them together, they add up to 5 trillion but in romney's mind his plan may be just saving the bush tax cuts or one of these five. >> what obama has done is landfalled onto a study that says because the math doesn't add up according to th experts, therefore what romney is going to do is raise taxes on the middle class. he goes around saying that as if it was romney's...
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Oct 1, 2012
10/12
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the -- there is a 4.8% tax, an additional 0.9% on your medicare tax. when does that, if you combine it, it is almost 5% increase without reversing of the bush tax cut. >> it is a substantial tax increase. >> for people like us with substantial incomes. >> i am the tax cut. the part of that i would endorse is the increase in the medicare tax. it is on pleasant and it is unpalatable. that is step one. >> what will the average person pay for their medicare tax a month for how long and when to get the 0.9% added? >> it is a good question. >> is added after one to $25,000? >> i think it is added after $200,000, or $250,000. i am not sure. right now, the medicare taxes 1.45% on all of your salary income. it would go to 2.35%. >> both sides talk about the $750 billion savings. [laughter] who is right? >> we had both become incredibly frustrated. it has to do with the way this is talked about in washington. it has nothing to do with what real people talk about with real money in their lives. the current projection is medicare spending would increase by hundred
the -- there is a 4.8% tax, an additional 0.9% on your medicare tax. when does that, if you combine it, it is almost 5% increase without reversing of the bush tax cut. >> it is a substantial tax increase. >> for people like us with substantial incomes. >> i am the tax cut. the part of that i would endorse is the increase in the medicare tax. it is on pleasant and it is unpalatable. that is step one. >> what will the average person pay for their medicare tax a month for...
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Oct 1, 2012
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our tax rates and deregulate. in the book, i tell the stories of new disee zealand, israel, a number of countries that have faced crisis far exceeding our current predicament. and new zealand is one of favorites. it was the third richest country in the world in the 1930s and by the 1980s it was the third world country. and it couldn't even feed itself. and 5% -- 45% of all agricultural revenue came from the deposit. it was socially a socialist country. they flat end out all of their government spending. eliminating alling a churm sub i dids and new see land began feeding itself and became the great source of the food around the world and competed in dairy with wisconsin so aggressively that the wisconsin dairymen accused of them of unfair trading practice alls all the way from new zealand. it is the great vanity of bureaucrats that somehow their jobs are awfully important. but after the second world war, we eliminated 150,000 bureau crateds, millions of federal workers and the same economists are therefore bearers
our tax rates and deregulate. in the book, i tell the stories of new disee zealand, israel, a number of countries that have faced crisis far exceeding our current predicament. and new zealand is one of favorites. it was the third richest country in the world in the 1930s and by the 1980s it was the third world country. and it couldn't even feed itself. and 5% -- 45% of all agricultural revenue came from the deposit. it was socially a socialist country. they flat end out all of their government...
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when we tax our job creators at much higher tax rates than foreign competitors, we lose and they win. we do not want to tax the small businesses. our jobs come from these successful small businesses. we want them to hire more people. that is essential. none of this is going to work, no business will be confident to take the risk to hire people, give the raises and job security, if they see the government borrowing and spending like it is. we cannot keep borrowing 36 cents of every dollar the government spends. we cannot keep the federal reserve doing what it is doing. we cannot keep looking our children in the eye knowing we're going to give them a diminished future because we are spending their money today. it is a simple idea. mitt romney and i are going to bring it to washington. we have to stop spending money we do not have. we must cut spending. we must get the balanced budget. we must get the debt under control. [applause] this not only hurts our economy with the threat of higher interest rates and much higher tax rates. ournow we're giving children and grandchildren a lower sta
when we tax our job creators at much higher tax rates than foreign competitors, we lose and they win. we do not want to tax the small businesses. our jobs come from these successful small businesses. we want them to hire more people. that is essential. none of this is going to work, no business will be confident to take the risk to hire people, give the raises and job security, if they see the government borrowing and spending like it is. we cannot keep borrowing 36 cents of every dollar the...
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Oct 4, 2012
10/12
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extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a. today." who's right? >> mitt romney does have tax cuts in his plan. the issue is it really a $5 trillion tax cut because what he says is if it will -- says but it will make more revenue because it creates more jobs. those people then start paying taxes. so it doesn't actually cut revenues to the government. but there are cuts in the tax rate that individuals pay. i'm not sure how to count whether that is or is not a tax cut. >> reporter: okay. bottom line, $5 trillion not $5 trillion or there is no bottom line? >> the romney-ryan plan has nev
extension of the bush tax cuts. that's another trillion dollars. and $2 trillion in additional military spending that the military hasn't asked for. >> i don't have a $5 trillion tax cut. i don't have a tax cut of a scale that you're talking about. my view is that we ought to provide tax relief to people in the middle class. >> reporter: all right. two contending points there. only one of them can be right. paul singer, the fact checker here tonight, political editor at "u.s.a....
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the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s and '40 50s the rest of the world had basically destroyed the rest of its capacity in world war ii so we made everything we wanted, cars, t-shirts, socks, televisions, electronics. we made that all here in the u.s., were consumed it. we exported it because nobody else was doing it. we are not going back to a world in which we will have a monopoly on industrial production. in fact, it's the opposite. everybody else now hats hardware to make all the stuff that we did, so it is much more of a challenge to just say, you know, we're going to do these sort of three things that w
the stimulus was one-third tax cuts, big payroll tax cuts. plenty of tax cuts. >> very true. >> and for small business tax cuts, too. >> export boom, exports on a monthly basis have risen 50% from their low in march of 2009. the difference is that we have an economy in which rising demand doesn't necessarily translate into more jobs instantly because we're so good at being productive. we use machinery and software computers. the other big difference between now and the '40s...
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Oct 6, 2012
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one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries. it's meant to come from providers. however, what romney was saying is that if you take that much from providers, some of them are going to stop taking medicare parents. the trick for him is that paul ryan, his running mate, also assumed the same $716 billion. gwen: and i believe romney's answer to that was i'm the candidate. >> i'm the boss. we're going to put that money back into medicare. gwen: going into these debates we were all probably guilty of setting the expectations bar and it was pretty high for president obama. i think the polls before showed him like 51% thought he was going to win. 29%
one is deficit reduction, one is tax cuts. if tax cuts get in the way, we'll do deficit reduction. gwen: there's another number. $716 million to deal with medicare but it's coming from different places and going to different places and therefore they find -- kind of ended up in a draw. >> for the president's health care plan, in order to fund it they assumed savings over 10 years of $716 billion for medicare. mitt romney called that a cut in medicare as if it was a cut in beneficiaries....
SFGTV: San Francisco Government Television
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Sep 30, 2012
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talk a little bit about the history of this agency, and the role of tax increment financing, which is what we're really talking about. in 1989 the old imperial redevelopment agency was done in by this board of supervisors when it allowed the use of tax increment financing subject to fundamental and basic changes in the structure of the redevelopment agency. and it has been that agency from 1990 on that we're dealing in terms of this successor agency. it is important to understand that the board of supervisors insisted that for the use of tax increment financing, understanding during the battle days of urban renewal no tax increment financing was allowed. the point is that the board of supervisors insisted on its direct control, including land use controls that i believe exist in this ordinance and in the amendments proposed by the council of community housing organizations. i would be happy to answer any questions, if there are any. seeing none, i will go. [ laughter ] >> we may have them later for you. thank you. next speaker. >> thank you. thank you, mr. president. members, my name
talk a little bit about the history of this agency, and the role of tax increment financing, which is what we're really talking about. in 1989 the old imperial redevelopment agency was done in by this board of supervisors when it allowed the use of tax increment financing subject to fundamental and basic changes in the structure of the redevelopment agency. and it has been that agency from 1990 on that we're dealing in terms of this successor agency. it is important to understand that the board...
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lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing the foundation. lori: at the end of the day you need economic growth to be supportive of tax rates, and we are just come as you said, flat line at 1%. a revision, a downward revision. you know, hell are we going to get the overall growth rate higher? do we have to wait? obviously the election is so near, but are we just putting too much hope on to washington right now and not enough on good old fashion innovation and ingenuity? >> ingenuity and in this is great, but if government policies have their foot on the throats of the innovators and those who have the ability to create jobs it will take them somewhere e
lori: remind me what tax reform should look like. >> we ought to be taxing consumption instead of productivity. the things that make an economy strong our work, savings, investment. those are things that make us stronger. we penalize the very things that are productive. we ought to be rewarding people are working and saving and investing because they're helping the economy to grow. that is why i am a fairfax -- fair tax supporter which would create a very different model. it is changing...
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because as liberals, we want to see the tax on work reduced, the tax on unearned wealth increased, and the system as a whole tilted in favour of those on low and middle incomes. the budget delivered all three. but let me make one thing clear, now that we have brought the top rate of tax down to 45p -- a level, let's not forget, that is still higher than throughout labour's 13 years in office -- there can be no question of reducing it further in this parliament. [applause] all future cuts in personal taxation must pass one clear test, do they help people on low and middle incomes get by and get on? it's as simple as that. at the next election, all parties will have to acknowledge the need for further belt tightening. that much is inescapable. but the key question we will all have to answer is who will have to tighten their belts the most? our position is clear. if we have to ask people to take less out or pay more in, we'll start with the richest and work our way down, not the other way around. we won't waver in our determination to deal with our debts. but we will do it in our own way,
because as liberals, we want to see the tax on work reduced, the tax on unearned wealth increased, and the system as a whole tilted in favour of those on low and middle incomes. the budget delivered all three. but let me make one thing clear, now that we have brought the top rate of tax down to 45p -- a level, let's not forget, that is still higher than throughout labour's 13 years in office -- there can be no question of reducing it further in this parliament. [applause] all future cuts in...